401 KAR 35:110.

Use of a mechanism for closure and postclosure (IS).

 

      RELATES TO: KRS

224.10, 224.40, 224.43, 224.46, 224.99

      STATUTORY

AUTHORITY: KRS 224.10-100, 224.46-520

      NECESSITY,

FUNCTION, AND CONFORMITY: KRS 224.46-520 requires that persons engaging in the

storage, treatment, and disposal of hazardous waste obtain a permit. KRS

224.46-520 requires the cabinet to establish standards for these permits, to

require adequate financial responsibility, and to establish minimum standards

for closure for all facilities and the postclosure monitoring and maintenance

of hazardous waste disposal facilities. This chapter establishes minimum

standards for hazardous waste sites or facilities qualifying for interim

status. This administrative regulation establishes the standards for use of one

(1) financial mechanism for both closure and postclosure.

 

      Section 1. Use

of a Mechanism for Financial Assurance of Both Closure and Postclosure Care. An

owner or operator may satisfy the requirements for financial assurance for both

closure and postclosure care for one (1) or more facilities by using a trust

fund, surety bond, letter of credit, insurance, financial test, corporate

guarantee, cash account or certificate of deposit that meets the specifications

for the mechanism in both 401 KAR 35:090 and 401 KAR 35:100. The amount of

funds available through this mechanism must be no less than the sum of funds

that would be available if a separate mechanism had been established and

maintained for financial assurance of closure and of postclosure care. (10

Ky.R. 228; eff. 12-2-83.)